Ordinance 2451 - Laserfiche WebLink

I IP cipal and interest of said bonds being payable out of general tax levies of the City of Everett according to the provisions of this Ordinance, and the City of Everett is hereby directed to pay the same as herein provided. This bond is one of an issue of bonds in the sum of eight hundred thousand dollars ( 800,000.00), which issue was author- ized by the voters of said City of Everett at a special municipal bond electinn held therein on May 4, 1929, pursuant to Ordinance No. 2433 of said city, and is issued pursuant to Ordinance No. 2-, /l of said city, full copies of said ordinance being printed on the back hereof. The City of Everett covenants and agrees with the ho]d er of this bond that it will cause to be levied each year a tax upon the taxable property of the City of Everett within the lim- its of said city, which shall be sufficient to pay the interest on said bonds as the same accrues, and sufficient to create a sinking fund sufficient to pay the principal of said bonds at • maturit-::. The said Everett hereby covenants and agrees with the hold- er of this bond that from and after November 1, 1929, and so long thereafter as any of said bonds are outstanding, it will set aside and pay into the Everett Water System General Obligation Bond Interest Fund No. 2, from time to time, not less• than thirty (30) days prior to the respective dates on which the interest shall become due and payable , a sufficient amount to pay the interest on said bonds as the same becomes due, and al- so that it will set aside and pay into the Everett Water System General Obligation Bond Fund No. 2 from time to time, not less than thirty (30) days prior to the respective dates on which the principal of this issue of bonds shall become due and payable, a sufficient amount to pay the principal of said bonds as the same mature, arid. also that it will pay into the Everett Water System Construction Fund all moneys received through the sale of sad